Kestra Investment Management LLC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Kestra Investment Management LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 871 shares of the coffee company’s stock, valued at approximately $80,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SBUX. Financial Life Planners bought a new stake in Starbucks during the fourth quarter valued at $25,000. Collier Financial bought a new stake in shares of Starbucks during the 4th quarter valued at about $27,000. DT Investment Partners LLC grew its holdings in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC bought a new position in shares of Starbucks in the third quarter worth approximately $49,000. Finally, Hager Investment Management Services LLC purchased a new stake in Starbucks in the fourth quarter valued at approximately $56,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

NASDAQ SBUX opened at $111.75 on Friday. The stock has a market cap of $126.94 billion, a P/E ratio of 36.05, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $114.68. The stock has a 50 day simple moving average of $99.72 and a two-hundred day simple moving average of $97.15.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period last year, the business earned $0.90 earnings per share. Sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Analysts Set New Price Targets

SBUX has been the subject of several research analyst reports. Redburn Atlantic reiterated a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Barclays upped their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. UBS Group lifted their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Citigroup increased their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.